CIL falls as its coal allocation to power sector under e-auction declines 29% in Q1FY21

Date: 28-07-2020

Coal India is currently trading at Rs. 129.40, down by 0.55 points or 0.42% from its previous closing of Rs. 129.95 on the BSE.

The scrip opened at Rs. 130.90 and has touched a high and low of Rs. 130.90 and Rs. 128.60 respectively. So far 88703 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 217.90 on 05-Nov-2019 and a 52 week low of Rs. 119.25 on 26-Mar-2020.

Last one week high and low of the scrip stood at Rs. 136.55 and Rs. 128.60 respectively. The current market cap of the company is Rs. 79776.52 crore.

The promoters holding in the company stood at 66.13%, while Institutions and Non-Institutions held 30.07% and 3.73% respectively.

Coal India’s (CIL) coal allocation under special forward e-auction for the power sector declined 28.7 percent to 4.74 million tonnes (MT) in the first quarter of the ongoing fiscal (Q1FY21). CIL had allocated 6.65 MT of coal in April-June period of the last fiscal. Coal allocation by the Maharatna firm under the scheme declined to 0.64 MT last month, from 0.88 MT in June 2019.

CIL is one of the major suppliers of coal to the power sector. The PSU, which is already reeling under the impact of the COVID-19 crisis which has hit demand and supply of coal, had recently said the situation will remain uncertain in July-September as some states are resorting to fresh lockdowns.

Coal India is the world’s largest coal mining company. It also produces noncoking coal and coking coal of various grades for diverse applications.

Coal India Ltd.

CIL falls as its coal allocation to power sector under e-auction declines 29% in Q1FY21